Bulgaria is paving the best way to take management of the Lukoil oil refinery if vital | Jobi Cool

SOFIA, Jan 13 (Reuters) – Bulgaria can take over the operation of Russian firm Lukoil’s ( LKOH.MM ) Neftochim Burgas refinery for as much as a yr, lawmakers selected Friday in a vote aimed toward defending crucial infrastructure and safe gasoline provides to the Balkan Nation.

The 196,000-barrel-per-day refinery, the largest gasoline producer in Bulgaria, has switched to processing solely Russian crude after the nation was granted a waiver from the EU’s ban on Russian oil imports linked to the invasion of Ukraine.

In keeping with the exception till the top of 2024, the refinery can not export fuels or oil merchandise from February 5 – excluding deliveries to Ukraine. The refinery may export by-products that can’t be safely saved in Bulgaria and should pose an environmental threat.

Lukoil Neftochim has beforehand mentioned it could be compelled to close down if it can not export its output.

Underneath Bulgaria’s legislative adjustments permitted by a vote of 141-24, the economic system minister can appoint a particular commerce consultant to take operational management of the refinery if there are threats to nationwide safety or to the availability of crucial sources.

“The authorized adjustments will make Bulgaria a robust and enough nation that may intervene if a crucial scenario arises,” mentioned Martin Dimitrov, a senior member of the anti-graft Democratic Bulgaria Social gathering.

A particular consultant can be appointed if the refinery violates competitors guidelines or EU sanctions.

Reporting by Tsvetelia Tsolova Enhancing by David Goodman

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